Industry News by Nemesis

WFDB/IDMA World Diamond Congress Opens in Dubai

The 37th World Diamond Congress, the biennial meeting of the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA) opened in Dubai today (Tuesday).

Dubai Multi-Commodities Centre (DMCC) executive chairman and Kimberley Process chair, Ahmed Bin Sulayem, said that Dubai was a significant hub located in a pivotal point between East and West. He added that it was an important gesture of Dubai’s increasing significance that so many industry leaders were attending the World Diamond Congress and the upcoming Kimberley Process intercessional meeting.

Dubai Diamond Exchange chairman Peter Meeus said that the center of the diamond industry was beginning to shift eastward. “The traditional balance of power is changing and the diamond world is no exception to this general trend.”

WFDB president Ernie Blom reminded delegates that the three main themes of the congress were transparency, responsibility and sustainability, and that these are constant themes that run through the challenges facing the diamond industry.

IDMA secretary general Ronnie VanderLinden urged détente between the lab-grown and natural diamond industries, and that the work of the Diamond Producers Association was particularly important in strengthening consumer confidence.

“We ask the synthetic diamond business community to act responsibly and help protect the diamond, gem and jewellery industry and trade,” said VanderLinden.

“I also call on all industry members to come down from the sidelines and actively support the World Diamond Mark’s in its work, together with the retail jewellery industry, in advancing generic diamond promotion and advertising projects, aimed at the consumer.